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TOWN OF ISLIP (N.Y.) GENERAL OBLIGATION BONDS AFFIRMED AT 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

TOWN OF ISLIP (N.Y.) GENERAL OBLIGATION BONDS AFFIRMED AT 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 27 /PRNewswire/ -- The Town of Islip, New York's general obligation bonds are affirmed at 'A+' by Fitch. The town will offer $18.275 million of general obligation bonds on Oct. 29 at competitive bidding. The credit trend is stable.
 The outlook for the Town of Islip is generally favorable despite the current economic slowdown. As the town's economic base has grown dramatically in the last 20 years, Islip has maintained a good level of service provision and sound financial performance. Current resources appear to be adequate to meet needs within the context of slower growth. Town functions generally are limited, compared to other local government units within the state, therefore external financial pressures are not great. The major town function, solid waste collection and disposal, has been addressed successfully by Islip with its resource recovery plant and recycling program. The capital program is manageable given existing debt payout.
 -0- 10/27/92
 /CONTACT: Colleen Woodell, 212-908-0507, or Ruth M. Levine, 212-908-0605, both of Fitch/ CO: Town of Islip ST: New York IN: SU: RTG


CK -- NY083 -- 5423 10/27/92 12:58 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:202
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